Amalgamated Bank Sells 3,171 Shares of First Republic Bank (NYSE:FRC)

Amalgamated Bank trimmed its holdings in shares of First Republic Bank (NYSE:FRCGet Rating) by 6.6% during the first quarter, HoldingsChannel reports. The fund owned 44,959 shares of the bank’s stock after selling 3,171 shares during the quarter. Amalgamated Bank’s holdings in First Republic Bank were worth $7,288,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FRC. Quent Capital LLC bought a new stake in First Republic Bank during the 4th quarter worth approximately $45,000. Tcwp LLC bought a new stake in shares of First Republic Bank in the 1st quarter valued at $45,000. Ellevest Inc. boosted its stake in shares of First Republic Bank by 84.3% in the 1st quarter. Ellevest Inc. now owns 306 shares of the bank’s stock valued at $50,000 after purchasing an additional 140 shares during the last quarter. Point72 Hong Kong Ltd boosted its stake in shares of First Republic Bank by 124.9% in the 4th quarter. Point72 Hong Kong Ltd now owns 442 shares of the bank’s stock valued at $91,000 after purchasing an additional 2,215 shares during the last quarter. Finally, Standard Family Office LLC bought a new stake in shares of First Republic Bank in the 4th quarter valued at $111,000. 95.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays reduced their price objective on shares of First Republic Bank from $223.00 to $198.00 and set an “equal weight” rating on the stock in a research note on Friday, July 15th. Maxim Group reaffirmed a “buy” rating and issued a $250.00 price objective on shares of First Republic Bank in a research note on Friday, July 15th. Morgan Stanley cut their target price on shares of First Republic Bank from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 12th. Wolfe Research cut their target price on shares of First Republic Bank from $194.00 to $157.00 and set an “outperform” rating on the stock in a research note on Thursday, May 26th. Finally, Jefferies Financial Group increased their target price on shares of First Republic Bank from $170.00 to $171.00 in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $187.33.

First Republic Bank Stock Performance

FRC opened at $141.74 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average price is $157.39 and its two-hundred day moving average price is $154.98. First Republic Bank has a 1-year low of $133.37 and a 1-year high of $222.86. The company has a market cap of $25.46 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.95 and a beta of 1.12.

First Republic Bank (NYSE:FRCGet Rating) last announced its earnings results on Thursday, July 14th. The bank reported $2.16 EPS for the quarter, beating the consensus estimate of $2.05 by $0.11. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. First Republic Bank had a net margin of 27.65% and a return on equity of 12.96%. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.95 earnings per share. On average, analysts expect that First Republic Bank will post 8.6 EPS for the current fiscal year.

First Republic Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Thursday, July 28th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $1.08 annualized dividend and a dividend yield of 0.76%. First Republic Bank’s dividend payout ratio is currently 13.35%.

First Republic Bank Company Profile

(Get Rating)

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, and private wealth management services to clients in metropolitan areas in the United States. It operates in two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as noninterest-bearing checking, interest-bearing checking, money market checking accounts, money market savings accounts, and passbook accounts, as well as certificates of deposit.

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Institutional Ownership by Quarter for First Republic Bank (NYSE:FRC)

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